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Longer Payee names supported for downloaded transactions

adweathers
adweathers Member ✭✭

Payee names get truncated to a maximum length that often cuts off the most important information that allow me to identify the transaction. A recent example is "Mira Mesa -bite-ca" which is not very informative. This is not the worst case, just the most recent. The actual name on the transaction was "Mira Mesa -bite-cafishgri". As can be seen, the business name is at the end of the string. The name of the business is "CA Fish Grill" so the transaction record is already truncating the name. Why truncate further? Just support the length provided by the transaction records, which are already limited.

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Comments

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭

    Blame your bank for how they presented the info.

    And, your request would require that ALL participating FIs agree to change the OFX/QFX spec … which ain't gonna happen.

    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • adweathers
    adweathers Member ✭✭

    I understand. I work in an industry where specs are regularly used. Some are very active with potential updates regularly submitted. Some have almost no activity. I guess this one fits in the second category.

  • UKR
    UKR SuperUser ✭✭✭✭✭

    Have you tried setting up a Renaming Rule, something like this?

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭

    Just a note for all those financial institutions that have a habit of putting the full payee names in the memo while filling the payee field with useless information, if you use "If payee contains" it looks in both the payee and memo fields to find the text you put in and decide whether to rename the payee or not.

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  • adweathers
    adweathers Member ✭✭

    I have tried that in the past with other payees that were extremely cryptic. It is a good option because I will see a friendlier name when it shows up again. The problem is when it is the first time seeing it I will have no idea who the vendor is and so I won't know what the rename should be.

  • adweathers
    adweathers Member ✭✭

    That is a good idea and something to keep in mind. I have not always paid attention so with some of my institutions this may work. Unfortunately, the institution I use for checking does not do this. It only gives the purchase date and location. This is helpful but not as much as the name.

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭

    Looking at your other post and this one more closely, I want to point out something.

    https://community.quicken.com/discussions/tagged/download-transactions

    The OFX protocol's payee limitation is 32 characters. In that other post you say your downloaded payee is truncated to 18 characters. Well, whatever did that is "upstream" most like when the Intuit server got the data from the financial institution.

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  • Quicken Kristina
    Quicken Kristina Moderator mod
    edited December 2

    Hello @adweathers,

    I'm responding to your question here so that we don't hijack the other Idea thread with an off topic discussion:

    I didn't do anything special; I added my PayPal account to my Quicken file so I could verify what it showed for the Payee.

    If you don't have renaming rules shortening the Payee names, then the 18 character limit you're seeing may be due to your financial institution. Are you seeing this with just one financial institution, or with multiple?

    Thank you.

    Quicken Kristina

  • adweathers
    adweathers Member ✭✭

    @Chris_QPW, @Quicken Kristina,

    It appears to be limited to a single institution as far as I can tell. When I looked closer I noticed it is not consistent. For transactions initiated within the institution, such a bill pay, the payee names are longer. For incoming transactions initiated at a vendor, the payee names are truncated. By the way, the financial institution is Wells Fargo Bank in case anyone asks the same question. I noticed on their website if you look at the details of a transaction, the names are longer. they are up to 24 characters for the examples I looked at. But in the OFX log it looks like the names for the incoming transactions are truncated to 18 characters. So it appears to be upstream as you mentioned. Thanks for your help.

  • UKR
    UKR SuperUser ✭✭✭✭✭

    Looking back in history, Renaming Rules have looked at a combination of both Downloaded Payee and Downloaded Memo to determine how to rename a downloaded transaction.

    Use of the Memo for meaningful downloaded information seems to have dwindled in the past few years. I see less and less meaningful Memo text being provided by the banks for checking, debit and credit card transactions. But that could also be caused by the merchants' credit card processing systems not providing enough meaningful information in the first place.
    For example, I don't need my full name as Memo text in every credit card transaction. To be able to identify which of the many family members made a transaction, the last 4 digits of the card number would suffice, followed by any merchant-supplied text.

    A clear text merchant name should be in the Payee Name field. Anything else, like store number, transaction or invoice number, words like "Debit card", etc. should be provided in the downloaded Memo field. With about 250 characters in length, this field certainly has room enough to be used in a meaningful way.